We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Block (SQ) Surpasses Market Returns: Some Facts Worth Knowing
Read MoreHide Full Article
In the latest market close, Block (SQ - Free Report) reached $67.88, with a +1.81% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 1.07%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq gained 1.74%.
Shares of the mobile payments services provider witnessed a loss of 2.17% over the previous month, trailing the performance of the Business Services sector with its gain of 3.12% and the S&P 500's gain of 2.93%.
The investment community will be paying close attention to the earnings performance of Block in its upcoming release. The company is slated to reveal its earnings on February 22, 2024. The company is expected to report EPS of $0.60, up 172.73% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.65 billion, up 21.51% from the prior-year quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Block. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.82% higher. Block presently features a Zacks Rank of #3 (Hold).
Investors should also note Block's current valuation metrics, including its Forward P/E ratio of 22.36. This valuation marks a discount compared to its industry's average Forward P/E of 24.17.
One should further note that SQ currently holds a PEG ratio of 0.65. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Technology Services industry held an average PEG ratio of 1.45.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 86, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Block (SQ) Surpasses Market Returns: Some Facts Worth Knowing
In the latest market close, Block (SQ - Free Report) reached $67.88, with a +1.81% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 1.07%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq gained 1.74%.
Shares of the mobile payments services provider witnessed a loss of 2.17% over the previous month, trailing the performance of the Business Services sector with its gain of 3.12% and the S&P 500's gain of 2.93%.
The investment community will be paying close attention to the earnings performance of Block in its upcoming release. The company is slated to reveal its earnings on February 22, 2024. The company is expected to report EPS of $0.60, up 172.73% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $5.65 billion, up 21.51% from the prior-year quarter.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Block. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.82% higher. Block presently features a Zacks Rank of #3 (Hold).
Investors should also note Block's current valuation metrics, including its Forward P/E ratio of 22.36. This valuation marks a discount compared to its industry's average Forward P/E of 24.17.
One should further note that SQ currently holds a PEG ratio of 0.65. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Technology Services industry held an average PEG ratio of 1.45.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 86, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.